Wrapped Ether (WETH) is used to make an offer to buy an NFT or bid on an auctioned NFT.
WETH allows users to make pre-authorized bids that can be fulfilled at a later date without any further action from the bidder. WETH is minted when a user sends ETH to the WETH decentralized, open-source smart contract. The smart contract holds the ETH sent by users and mints an equivalent amount of WETH. OpenSea does not mint WETH or exchange ETH for WETH, and OpenSea does not operate or control the WETH smart contract.
This guide explains:
How to convert ETH for WETH
How to add WETH as a token in your MetaMask wallet
Converting ETH to WETH
You can follow these steps to convert ETH into WETH:
1. Navigate to the top-right corner of OpenSea and click your Wallet balance.
2. Click the arrows button, and then enter the amount of ETH you’d like to wrap in the Amount field.
3. You'll be prompted to confirm the transaction using a third-party smart contract. The transaction will involve a gas fee since you are interacting with the blockchain.
4. Once the wrap is complete, you'll see a confirmation message.
If the wrapping transaction succeeds, WETH (your offer balance) will appear under Tokens in your wallet sidebar.
When bidding or making an offer on an item, you'll also be able to add more WETH to your wallet by clicking Add WETH.
WETH may not appear by default on your MetaMask. To add WETH, click on the MetaMask extension, select the Tokens tab, and click Import tokens.
Type WETH into the search box. You should see Wrapped Ether (WETH) show up as an option.
After confirming, you should see WETH appear in your item list on the MetaMask extension.
